The process that begins with analyzing transactions and ends with the preparation of a post-closing trial balance is called
A)the fiscal period.
B)the business cycle.
C)the accounting period.
D)the accounting cycle.

Question

Quizplus · Accepted Answer

The accounting cycle is the set of processes and procedures that starts with the analysis of transactions and ends with the preparation of financial statements, including the post-closing trial balance. This cycle involves recording, classifying, summarizing, and reporting financial information to stakeholders. Therefore, choice D is the correct option. The fiscal period refers to a period of time for which financial statements are prepared, while the business cycle refers to the series of stages that a business goes through over time. Choice C is partially correct, but not comprehensive enough to cover the entire process.

The Process That Begins with Analyzing Transactions and Ends with the Preparation